Mortgage Rates Fall According to Bankrate (RATE)
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Mortgage rates were lower across the board, with the average conforming 30-year fixed mortgage rate falling to 6.53%. According to Bankrate.com's (Nasdaq: RATE) weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points.
The average 15-year fixed rate mortgage popular for refinancing declined to 6.09%, while the average jumbo 30-year fixed rate stepped back to 7.69%. Adjustable mortgage rates followed suit, with the average 5-year ARM sinking 6.09% and the average 10/1 ARM dropping to 6.56%.
Bankrate, Inc. owns and operates an Internet-based consumer banking and personal finance network. [SM]
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